LIVE ANTMINER AUCTIONS ON EBAY

Around the same time last year the R4 was highly anticipated by miners and is still considered one of the most efficient and quiet AntMiners on the market at a Hashrate of 8.6 TH/s and will cost you around $1000.

They can be found much cheaper now in second hand condition.

ANTMINER R4

In 2017 however the following two AntMiners are the most preferred choice among proficient cryptocurrency miners.

ANTMINER S7

ANTMINER S9

ANTMINER POWER SUPPLIES

CRYPTOCURRENCY MINING TERMINOLOGY

Hashrate– The measure of how many attempts per second it takes for the miner to solve a Bitcoin block.

The current SI unit prefixes:

Kilohash / KH/s = thousands of H/s

Megahash / MH/s = millions

Gigahash / GH/s = billions

Terahash / TH/s = trillions

Petahash / PH/s = quadrillions

Joule– The measure of energy representing 1 Watt over 1 second. So Joules per Gigahash is the efficiency of the miner.

Difficulty – The level of difficulty is an automated process which prevents blocks from being solved very quickly. This system insures that blocks are solved at an average of 10 minutes per block.

TIPS FOR MINING

A lot of people tend to think you just buy one of these miners, plug it into the wall and the bitcoins will appear in their Bitcoin wallet, I use to be one of them!

Your chances of mining a Bitcoin block by yourself is pretty much zero unless you own a few PH/s.

You need to be part of a mining pool that combines Hash-power in order to successfully solve a Bitcoin block.

Obviously the more Hash-power the better but consider that the bigger the mining pool, the smaller the reward that is shared for completion among miners.

There are also many other factors to consider like the mining contract before joining a mining pool and THIS ARTICLE will explain it all detail.

If you have something interesting to share with the Bitcoin community you welcome to leave a comment below.

If you are struggling to understand something and would like some help, have feedback or suggestions then please add it to the comment section below.

2 Comments

Hobby Bitcoin mining can still be fun and even profitable if you have cheap electricity, an efficient bitcoin mining machine and get the best Bitcoin mining hardware.

It’s important to remember that Bitcoin mining is competitive. Today it is not smart for the average person to mine since China’s cheap electricity has allowed it to dominate the mining market. If you want bitcoins then you are better off buying bitcoins.

That is true, if you want to profit short term you have to consider how competitive the market is. Additionally it’s a time race as well until all the blocks are mined.
That’s why it is vital to be part of a strong mining pool. They say “if you can’t beat em, join em”.

I think it can still be very profitable long term if the price of Bitcoin keeps increasing.